Stock Market & Financial Investment News

Aerie Pharmaceuticals reports Q4 GAAP EPS (62c), consensus (25c)Included in the $10.3M net loss and the (62c) EPS are non-cash charges totaling $4.9M, of which $1.3M represents stock-based compensation expense included in operating expenses. With these non-cash items excluded, the adjusted operating expenses of $5.4M include adjusted research and development expenses of $3.0M and adjusted general and administrative expenses of $2.4M. In addition to the $1.3M stock-based compensation expense, the $4.9M in non-cash charges include a $2.7M extinguishment loss related to the conversion of the Company’s outstanding convertible promissory notes to common equity upon the closing of the IPO and $900,000 in accrued interest and amortization expense related to the Company’s notes that were converted to common equity upon the closing of the IPO.

Aerie Pharmaceuticals' Rhopressa shows positive preliminary evidence in glaucomaAerie Pharmaceuticals announced potentially breakthrough findings from new preclinical research indicating that Aerie’s lead drug candidate, Rhopressa, may block the effect of fibrosis-promoting proteins on cells of the trabecular meshwork, a tissue that helps maintain normal pressure in the eye. Fibrosis at the trabecular meshwork is associated with elevated intraocular pressure in patients with glaucoma. This is the first study to show that Rhopressa, a novel once-daily, triple-action eye drop that lowers IOP in glaucoma patients, has the potential to modify the course of the disease by arresting fibrosis. Pending successful advancement of the Phase 3 registration studies, three-month efficacy results are expected in the middle of Q2. If the trials are successful, the company expects to submit a New Drug Application filing by mid-2016.